I certainly don’t hope there will be any sort of depression. I tend to agree with Daniel about the Fed anticipating a recession next year as a means of correcting things. I think it will be on it’s way to getting worse than that, but the government and/or private industries will step in to keep things from getting too bad. IMHO, we need to find a way to keep consumption going in order to keep the recession from getting too bad or lingering for too long. I bet we’ll suddenly start to see lower energy prices and incentives for purchasing homes, vehicles, and other items for low up-front costs. Isn’t is funny the reasons that are used for increasing/decreasing oil prices?
Increase! Reason: A couple refineries were shut down for maintenance.
Decrease! Reason: Better than expected output from Saudi Arabia…like they all of a sudden exceeded their own expectations! Translation: people are getting pissed at the high prices so we better leave the pumps on for a little longer.
